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Friday, May 09, 2008

Although helped more by the diminishing competition than anything else, HMV will today announce a small increase in sales over the last year. They had a 7% rise; although they managed this with only two of their chain having been turned into digital youth clubs, the company has decided to carry on rolling out their new-style stores.

7% y-o-y growth is not small, it's astonishing - particularly in a depressed market. I've got a vested interest in this as I worked for Waterstone's for many years, so a large chunk of my pension is with HMV.